Airbnb has seen tremendous demand in the North West. Airbnb hosts in the region welcomed 325,000 guests into their homes last year, that is a 116% growth from last year.
Airbnb guests are generating £146m income to the region and hosts are struggling to keep up with the high demand.
To give you an idea of what you could earn, a two bedroom property in central Manchester can generate £2,300 a month. While this is very attractive income, it also takes time to manage guest communication, check-ins, cleaning and changing linens. Particularly challenging is to turn around your property between guests in a short time span can be a lot to take on.
Now, there is a solution for this! Many hosts are now choosing to let somebody else take care of the hard work. We came across an innovative new company called Pass the Keys that is making it easy to be an Airbnb host. The company works in 10 cities in the UK, among them Manchester.
Advisors can help you to get your property online, take good photograph, list and advertise your property on the relevant portals including Airbnb, handle the bookings and check-ins of guests, and make sure your property is cleaned professionally. Plus, the team at Pass the Keys offers 24/7 support for in-stay guests, so you don’t have to worry about a thing!
Many hosts are taking advantage of the service. IT consultant, James, is a two bedroom property owner in M4 postcode. He sees short letting as an awesome opportunity to maximise the value of his Manchester property, and started using Pass the Keys since March 2017.
“I often travel for work and leave my home vacant for approximately 3 months a year. This year I tried short letting it with Pass the Keys and it has been great. They advertise my flat on Airbnb, manage guest check-ins and do the cleaning afterwards. It’s very hands off and I get a nice additional income, allowing me to pay back my mortgage a little faster.”
The service is a also popular among buy-to-let investors who have invested heavily in Manchester the past couple of years. With many living outside of Manchester, hands-off Airbnb rentals are a popular way to bridge the time between tenants.
Talking to Pass the Keys, they gave us the top 5 suggestions to maximise your earnings in Manchester;
- Make your apartment or house available during popular times – may it be football or concerts in the city know when they are on and rent our pad out.
- Tidy up and remove personal belongings so guests feel welcome in your space!
- Fresh linen, towels and toiletries – make travelling easy and ensure everything is there!
- Ensure you have the essentials – hair dryer and iron may not be high on your list, but key to attract business travellers
- Add a personal touch – a map with your favourite places in the neighborhood goes a long way.
- If you are keen to learn how much you can earn on your rental, visit Pass the Keys website and enter your postcode, number of bedrooms into their earnings calculator and find out!